Cango Inc (CANG) has released an update.
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Cango Inc., a leading Chinese automotive transaction service platform, has announced a new share repurchase program authorizing up to US$50 million in buybacks of its ADSs and/or Class A ordinary shares over the next 12 months. The repurchases, aimed at optimizing capital structure and shareholder value, will be funded from Cango’s existing cash balance and conducted on the open market or through negotiated transactions. This follows a prior repurchase program where Cango had already bought back approximately US$44.6 million worth of shares.
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